February 13, 2007
STREBORGAIRCLUAP:
The World Can Halt Bush's Crimes By Dumping The Dollar (Paul Craig Roberts, 14 February, 2007, Countercurrents.org)
If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.
He only has to reverse engineer that to get to the truth: That America is the sole superpower on Earth is amply demonstrated by the fact that it offers the only genuine "security" to the global market. No one is going to dump dollars to buy the currency of dying nations. Posted by Orrin Judd at February 13, 2007 9:03 PM
Paul Craig Roberts still appears regularily in The Washington Times, amzingly enough. That he has gone from Buchananite conservative to writing for Countercurrents.org is really quite telling of.... well, something we already knew, I suppose.
Will he be shilling for Zawahiri soon? And, given that Bush will be a lame duck in about 12 months, it will be medically interesting to what what happens to these BDS sufferers when their heroin starts to dry up.
Posted by: Andrew X at February 13, 2007 9:22 PMAndrew - there are people still obsessed over Hillary/Bill/Vincent Foster/Webb Hubbell/etc. BDS will have a long long withdrawal time. And if the historians start to give Bush positive marks (just as Reagan improved after leaving office) the BDS will come roaring back.
Posted by: AWW at February 13, 2007 9:27 PMRight, dump the US dollars and half your reserves overnight. Amazingly stupid rant.
Posted by: ic at February 13, 2007 9:36 PMSorry, I can't figure out the title reference. Any clues?
Posted by: AWW at February 13, 2007 10:55 PMAWW: Paul Craig Roberts backwards.
Posted by: jd watson at February 13, 2007 11:30 PMAlmost backwards, but not quite.
He seems to think there's never been a better time to buy gold.
Posted by: Mike Morley at February 14, 2007 1:00 AMOJ's right.
My spin is because our currency is used worldwide, it's shear volume will tend to drag down our dollar's value versus local currencies, due to easy access to it and our "transparent" monetary system.
The dollar volume continues to increase as America, Americans and others create more and more wealth - nothing is finite or fixed and so far, th e American Dollar has a good history of assessing the value of that wealth, thus it's use worldwide.
The idea that someone, be it a nation or person, is going out to exchange all their dollars for pesos, euros, yen to send a message to the US is retarded. If they did that, they'd end up with less wealth than when they started(exchange fees, commissions) and a dead end currency (Euro, Yuan, Yen) literally.
Kill the US economy and we will win!!! Paul Krugman has been wishing (and writing about) this for so long that as far as he's concerned, it's already happened. (And if it hasn't happened yet, well, it's bound to happen real soon---tomorrow, or the day after that, or next week. Next month. It's a sure thing.)
With echoes of (the palyndromic) SOROS (as in SOROSEGROEG....
Posted by: Barry Meislin at February 14, 2007 3:50 AMIs Roberts' more fundamental error that he thinks any of these other nations really care about the "Bush regime", except as it provides handy rhetorical cover for their own purposes?
Posted by: Annoying Old Guy at February 14, 2007 9:20 AMKrugman's cat must be approaching Andromeda about now.
Some reporter should ask Krugman how his personal investments have done since 2003.
Posted by: jim hamlen at February 14, 2007 9:59 AMFolk-enemy, culture-traitor. If ever we sought a definition of these expressions, we have one here.
Posted by: Lou Gots at February 14, 2007 2:23 PM